Blockchain is Evolving into Our Day-to-Day Lives

If one were to examine the evolution of Blockchain, it would follow three main phases. First, you have Bitcoin, which has served as the grandfather of all Blockchain companies. It may not be the most advanced technologically, but the innovations made by Satoshi Nakamoto have led to everything else in the industry.

Disclosure: This is a Sponsored Article

Then, you have Ethereum, which transcended Bitcoin by creating a platform that was capable of not just handling monetary assets, but also computation as a whole. The third phase, and the one that has the most interesting potential, are Dapps. Decentralized applications have the potential to disrupt much of what is going on in the world and its applications are nearly limitless.

Conventional Business Not Adapting Fast Enough

If one were to examine some of the biggest businesses and industries, they would see that their business models have stayed essentially the same for the last ten years. This is often what occurs when new technology surfaces — the incumbents don’t want to disrupt their own business model, so it is up to new entrants to put it to use.

Eventually this turns into a forced change to the industry, but not without blood being spilled. For example, e-commerce is due for a big change, and it seems like augmented reality might be the next best way to change it. In the past, we have only seen small examples like QR codes or keywords as a means to connect the physical world to online commerce. But now it seems like technology has advanced enough that we can reasonably expect augmented reality to change this.

Social Media and Commerce Combined with AR

Interoperability of certain industries in both an online and offline context would change how they are viewed and operated. For example, if social media were able to be managed with augmented reality software, it could reach the next level of its utility.

The same applies to physical stores, which are currently being left in the dust by e-commerce. What the world needs right now is an API of sorts that will connect the existing shopping malls with advertising platforms. There is no shortage of ways that the world could benefit from having a large ecosystem connect offline environments to the Blockchain using AR.

NEM Brings You Scanetchain

One company that is dabbling with different ways of combining augmented reality and Blockchain is Scanetchain. This augmented dapp creates an ecosystem that connects social media, content distribution, commerce, and advertising to create an extremely valuable platform.

Scanetchain has already solved a lot of the problems inherent in the system. They operate on a hybrid Blockchain, which gives them the best of both worlds. For example, with social media, the immediate worry is that things will be too permanent. But the off-chain capabilities allow users to delete posts.

With its built-in partnership with NEM and by using NEM Blockchain technology, Scanetchain is aiming to revolutionize four industries: advertising, social networks, content distribution, and commerce. They are in the midst of the ICO of their SWC tokens, and are putting new vigor into creating an ecosystem that will continue to build upon itself.

The Future of Scanetchain

The company was founded by David Ham, a Canadian who developed the company in the U.S. (corporate body is in Singapore). By using NEM, he has ensured the tokens will be able to use the NEM voting system to remain fully democratic, which enhances the value of the ecosystem by avoiding centralization.

In the end, the value of the token depends on the value of the ecosystem. By using a proof of activity consensus system, the system will give rewards to users that actively participate in the ecosystem. This means the incentives push users to keep the ecosystem active, but rewards users in a way that no company has up until this point.

Scanetchain’s pre-sale will open on April 30, and on May 15 the sale will go public. Technology naturally has to continue evolving, and this might be the most effective way to connect it with the rest of the world.

Advertisement

By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.